Tata Motors falls for second straight session; stock down 4%

Tata Motors dipped 4% to Rs 341 on Monday, extending Friday’s 0.4% decline on the BSE. Tata Motors was the largest loser among the S&P BSE Sensex and Nifty 50 index at 11.42 am. The benchmark indices were down less than 1% at 34,111 and 10,465, respectively.
According to PTI report, Tata Motors-owned Jaguar Land Rover (JLR) is planning to cut jobs as it scales back production at some of its UK sites amid what it termed as "headwinds" impacting the automotive industry.

In past six trading sessions, shares of Tata Motors was down 6% after the company said that sales of JLR dropped 7.8% to 83,732 units in March 2018 over March 2017. On comparison, the S&P BSE Sensex was down 1.4% during the period.

Felix Brautigam, Chief Commercial Officer, Jaguar Land Rover said that weaker market conditions in the UK and Europe, driven by lack of consumer confidence and lower demand for diesel, are impacting growth.

Meanwhile, Edelweiss Securities expects Tata Motors will post consolidated revenue growth of 17% YoY in January-March quarter (Q4FY18).